Senior Manager, Compensation - Canadian Banking

Scotiabank   •  

Toronto, ON

Industry: Financial Services


8 - 10 years

Posted 372 days ago


The Sr. Manager, Compensation for Canadian Banking plays a pivotal role as a member of the compensation COE providing advice and in delivering strategic compensation guidance to business leaders and HR Business Partners.  

Provides advice and counsel on compensation issues including internal and external market benchmarking, development of compensation recommendations, review and implementation of incentive compensation program and lead the annual planning cycles related to base salary and incentive programs. 

This position interacts with senior leaders of the business units, HR RMs, Total Rewards team land other stakeholders (e. g. Finance, Risk, Legal, etc.) to build effective and efficient compensation solutions for the business supported.


Provide advice and delivers strategic compensation guidance to business leaders and HR business partners in Canadian Banking to support informed and effective decision-making.

Develop compensation recommendations (term sheet preparation for executives and non-executives roles) based on internal and external information to address new hires, promotions, retention etc.   Advises recruitment and HR RMs teams regarding pay decisions including policy and guideline interpretation.

Manage the annual compensation cycle for  assigned client groups, including the market intelligence and year-end planning cycle  related to base salary and incentives

In partnership with the incentive design team, evaluate and review compensation programs in support of business goals to ensure alignment with the Bank’s Global Total Reward Principles and legal and other regulatory requirements.

Develop and maintains external/internal network and awareness of market/industry trends with respect to both Canadian and International compensation matters.

Prepare communication materials including memos and presentations to increase employees and business leader’s understanding of the link between personal contributions and the business goals, as well as the value of total rewards packages.


8-10 years of compensationexperience including market analysis and compensation relationship management

Ability to understand drivers, analyze data, apply results to abstract problems and influence and work with key stakeholders at all levels.

Well-developed communication skills- oral and written, including the ability to articulate complex topics in a simple and straightforward manner.

Proven ability to effectively manage multiple priorities

Excellent organization and time management skills

High degree of initiative and sound judgment, operating with minimal supervision.

Excellent interpersonal, organization and project management skills

A high level of financial and business acumen

Advanced Powerpoint and Excel skills


Number of employees: 35,000 domestically

Typically 3-6 projects or initiatives ongoing based on size and scope

Focus on Canadian RetailBanking businesses


Standard office conditions

Dealing with confidential information

Long hours may be required based on project demands and associated timelines.

Requisition ID: 2920